Qualcomm Moderated Thread - please read rules before posting Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Qualcomm Moderated Thread - please read rules before posting

QCOM 166.49

-1.6%

11:02 AM EST

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Cooters who wrote (31305)	1/16/2003 9:14:52 PM
From: Jim Mullens	Read Replies (2) of 197188

Slacker, Cooters, CFOE- I was in the middle of trying again to make some sense out of the SSB report and you guys posted the Samsung CC notes and the Pacific Crest note, and now I’m totally confused. If Pacific Crest is deducing from Samsung that Qualcomm’s March quarter will be flat with the December quarter, that is definitely a WOW!!! Chipsets- ………Q orig……avg……..Dec rev………SSB jan……..PC 1/16 ?.....%+ to Orig Q1….25 – 27……26.0…….28.0 +………...28.2………….28.2………...8.5% Q2….20………….20.0…….25.5 avg………24.7…………28.2………..41.0% EPS Q1…..$0.365 X 1.085 = $0.396 Q2….………………………$0.396 Q1 + Q2…………………...$0.792……% of orig QCOM FY03 Guidance= 67% Balance required..………..$0.383 to reach original $1.175 guidance. FY03..$1.175 avg This is truly remarkable, yet SSB has a totally different take and remains in denial of anything positive on the horizon. Samsung’s 1Q03 CDMA handsets vs the total year is indeed a mystery that has us and SSB concerned. …………..4Q '02….1Q '03 (est)…% of year…..…Year 03. GSM…….6.1m ….. 6.1m…..……..17.7%……….…29m CDMA…..5.0m…….6.6m….………31.4%...............21m Total……11.1m…..12.7m………….25.4%...............50m Unfortunately, I couldn’t get a clean connection of the replay. These are some possibilities for the apparent drop-off in the remaining three quarters. 1. CDMA handsets for the domestic Chinese market will be manufactured by the joint venture partner and not included in the Samsung total. 2. Perhaps Samsung is being conservative in their annual forecast as is Qualcomm and keeping all projections more than one quarter out at the absolute minimum so as not to be subject to any criticism or potential litigation for misleading investors. In the current climate, this appears the prudent route to them. It also puts the companies in the perceived favorable position of providing earning “surprises” throughout the year. It however misleads the “analysts” as they apparently can’t see beyond their faces and continue to be “running scared”. As for the GSM increase for the balance of the year, perhaps Samsung is manufacturing MSM6300 equipped handsets in Korea for Unicom (VOD also?) and will be classifying them as GSM sales.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next